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TD.TO vs. VCN.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TD.TO vs. VCN.TO

Last updated Jun 13, 2026

TD.TO (The Toronto-Dominion Bank) is a stock, while VCN.TO (Vanguard FTSE Canada All Cap Index ETF) is Canada Equities fund tracking the FTSE Canada All Cap Domestic Index. Over the past 10 years, TD.TO returned 16.09%/yr vs 12.80%/yr for VCN.TO. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

TD.TO vs. VCN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in The Toronto-Dominion Bank (TD.TO) and Vanguard FTSE Canada All Cap Index ETF (VCN.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TD.TO achieves a 28.85% return, which is significantly higher than VCN.TO's 10.85% return. Over the past 10 years, TD.TO has outperformed VCN.TO with an annualized return of 16.09%, while VCN.TO has yielded a comparatively lower 12.80% annualized return.

TD.TO

1D
1.10%
1M
10.59%
YTD
28.85%
6M
32.50%
1Y
76.68%
3Y*
33.03%
5Y*
18.47%
10Y*
16.09%

VCN.TO

1D
0.72%
1M
3.40%
YTD
10.85%
6M
11.65%
1Y
33.96%
3Y*
23.86%
5Y*
14.96%
10Y*
12.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TD.TO vs. VCN.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TD.TO
The Toronto-Dominion Bank		28.85%77.06%-6.05%2.34%-6.01%40.15%3.72%11.66%-4.57%15.15%
VCN.TO
Vanguard FTSE Canada All Cap Index ETF		10.85%31.00%22.16%12.29%-5.76%25.65%4.83%22.09%-9.09%8.44%

Correlation

The correlation between TD.TO and VCN.TO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.63

Correlation (3Y)
Calculated over the trailing 3-year period

0.62

Correlation (5Y)
Calculated over the trailing 5-year period

0.64

Correlation (10Y)
Calculated over the trailing 10-year period

0.64

Correlation (All Time)
Calculated using the full available price history since Aug 13, 2013

0.59

The correlation between TD.TO and VCN.TO has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

The Toronto-Dominion Bank

Vanguard FTSE Canada All Cap Index ETF

Often compared with TD.TO:
TD.TO vs. RY.TOTD.TO vs. VDY.TOTD.TO vs. ENB.TOTD.TO vs. BNS.TOTD.TO vs. RYTD.TO vs. CM.TOTD.TO vs. DGS.TO
Often compared with VCN.TO:
VCN.TO vs. VDY.TOVCN.TO vs. VFV.TOVCN.TO vs. VCE.TOVCN.TO vs. XEQT.TOVCN.TO vs. VIU.TOVCN.TO vs. VUN.TOVCN.TO vs. HXT.TO

Return for Risk

TD.TO vs. VCN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TD.TO
TD.TO Risk / Return Rank: 9999
Overall Rank
TD.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
TD.TO Sortino Ratio Rank: 9999
Sortino Ratio Rank
TD.TO Omega Ratio Rank: 9999
Omega Ratio Rank
TD.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
TD.TO Martin Ratio Rank: 9999
Martin Ratio Rank
VCN.TO
VCN.TO Risk / Return Rank: 8686
Overall Rank
VCN.TO Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
VCN.TO Sortino Ratio Rank: 8686
Sortino Ratio Rank
VCN.TO Omega Ratio Rank: 8787
Omega Ratio Rank
VCN.TO Calmar Ratio Rank: 8181
Calmar Ratio Rank
VCN.TO Martin Ratio Rank: 8888
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TD.TO vs. VCN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Toronto-Dominion Bank (TD.TO) and Vanguard FTSE Canada All Cap Index ETF (VCN.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

TD.TOVCN.TODifference
Sharpe ratioReturn per unit of total volatility
5.07
2.59

+2.48

Sortino ratioReturn per unit of downside risk
6.10
3.35

+2.76

Omega ratioGain probability vs. loss probability

1.89

1.47

+0.42

Calmar ratioReturn relative to maximum drawdown

11.51

3.68

+7.83

Martin ratioReturn relative to average drawdown

48.39

16.98

+31.41

TD.TO vs. VCN.TO - Sharpe Ratio Comparison

The current TD.TO Sharpe Ratio is 5.07, which is higher than the VCN.TO Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of TD.TO and VCN.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TD.TO vs. VCN.TO - Drawdown Comparison

The maximum TD.TO drawdown since its inception was -52.42%, which is greater than VCN.TO's maximum drawdown of -37.32%. Use the drawdown chart below to compare losses from any high point for TD.TO and VCN.TO.

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Drawdown Indicators

TD.TOVCN.TODifference

Max Drawdown

Largest peak-to-trough decline

-52.42%

-37.32%

-15.10%

Max Drawdown (1Y)

Largest decline over 1 year

-6.68%

-9.11%

+2.43%

Max Drawdown (3Y)

Largest decline over 3 years

-15.04%

-12.24%

-2.80%

Max Drawdown (5Y)

Largest decline over 5 years

-26.06%

-16.12%

-9.94%

Max Drawdown (10Y)

Largest decline over 10 years

-35.80%

-37.32%

+1.52%

Current Drawdown

Current decline from peak

0.00%

-0.85%

+0.85%

Average Drawdown

Average peak-to-trough decline

-7.29%

-3.89%

-3.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.59%

1.97%

-0.38%

Volatility

TD.TO vs. VCN.TO - Volatility Comparison

The Toronto-Dominion Bank (TD.TO) has a higher volatility of 5.14% compared to Vanguard FTSE Canada All Cap Index ETF (VCN.TO) at 4.44%. This indicates that TD.TO's price experiences larger fluctuations and is considered to be riskier than VCN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TD.TOVCN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.14%

4.44%

+0.70%

Volatility (6M)

Calculated over the trailing 6-month period

11.73%

10.63%

+1.10%

Volatility (1Y)

Calculated over the trailing 1-year period

15.16%

12.94%

+2.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.17%

13.10%

+4.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.29%

14.99%

+4.30%

Dividends

TD.TO vs. VCN.TO - Dividend Comparison

TD.TO's dividend yield for the trailing twelve months is around 2.60%, more than VCN.TO's 2.00% yield.

PositionTTM20252024202320222021202020192018201720162015
TD.TO
The Toronto-Dominion Bank		2.60%3.25%5.33%4.48%4.06%3.26%4.32%3.97%3.85%3.19%3.26%3.69%
VCN.TO
Vanguard FTSE Canada All Cap Index ETF		2.00%2.27%2.71%3.00%3.17%2.49%2.72%2.88%2.83%2.29%2.36%2.68%

Frequently Asked Questions

TD.TO and VCN.TO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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